PSBs Drive Record Profits 💰
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🗞️ PSBs Lead India’s Record Bank Profits
Public Sector Banks are driving record profits for FY25, thanks to improved asset quality and lower provisioning. PSU banks collectively reported over ₹1.4 lakh crore in profit.
💬 Expert Take: “PSBs have come a long way since the NPA crisis. Continued credit discipline and tech adoption will be key to sustaining this momentum,” — Karthik Srinivasan, Group Head, Financial Sector Ratings, ICRA.
🗞️ Reliance Eyes Castrol India Stake
BP’s Castrol unit has attracted interest from Reliance, Apollo Global, and Lone Star as BP explores a sale. The deal could reshape India’s lubricants market.
🗞️ Cabinet Clears ₹3,399 Cr Rail Projects
The government has approved railway projects worth ₹3,399 crore aimed at boosting infrastructure and improving connectivity in key economic corridors.
🗞️ RBI Considering Sub-7-Day Deposits
The RBI is reviewing whether banks can accept term deposits of less than 7 days. Currently, 7 days is the minimum term deposit tenor.
🗞️ Cabinet Approves ₹15,642 Cr Farm Loan Subsidy
The government has approved a farm interest subsidy scheme worth ₹15,642 crore for FY25 to ease borrowing costs for farmers and boost rural credit access.
🗞️ Ananth Narayanan Bets Big on ₹1000 Cr Brands
In an interview, Ananth Narayanan stated that his company’s four consumer brands are each on track to cross ₹1,000 crore in revenue, driven by strong demand and D2C scaling.
💬 Expert Take: “The growth potential in India’s D2C space remains huge. Brand stickiness and logistics efficiency will differentiate winners,” — Shradha Sharma, Founder, YourStory.
🗞️ Ambani + BlackRock’s Aladdin?
Analysts speculate whether Reliance and BlackRock could use Aladdin, BlackRock’s powerful investment software, to disrupt India’s mutual fund space through their upcoming JV.
🗞️ India’s Industrial Growth Slows to 2.7%
Industrial output growth slipped to 2.7% in April, down from 3.9% in March. Slower manufacturing and electricity output pulled down the IIP numbers.
📊 Market Updates :
📉 Sensex: 80,115.22 ▼ -680.12 (-0.84%)
📉 Nifty 50: 24,752.45 ▼ -73.75 (-0.30%)
💵 USD/INR: ₹85.37 ▲ +0.06 (+0.07%)
🛢️ Brent Crude: $65.40 ▲ +1.2%
🪙 Bitcoin: $108,061 ▼ -1.7%
🪙 Gold (24K): ₹9,748/gram ▲ +₹10